The Small Business & Entrepreneurship Council’s 2009 Index on state’s entrepreneurship policy is out. It’s not good news. The authors acknowledge federal, state, and local policymakers face tough times. But their responses continue to make the situation much worse – increasing the costs of entrepreneurship, business ownership, and investment.
The biggest obstacle to entrepreneurship, “Public policy gone awry,” that is, higher taxes, regulations, and government spending.
Ranking states according to many factors including taxation, regulation, minimum wage laws leads to a not-too-surprising list.
The most entrepreneurship-friendly states: South Dakota, Nevada, Texas, Wyoming and Washington. The bottom five: Vermont, New York, California, New Jersey and the District of Columbia.